Nurturing innovative platforms to solve healthcare’s biggest challenges
1 October 2021
By Ed Radkiewicz, CEO at MARCOL Health
Innovation is the cornerstone of progress. And it is something we have seen in volumes during the COVID-19 pandemic as this unprecedented health challenge brought innovative solutions to match.
We have seen exceptional levels of collaboration between the public and private sectors bringing new diagnostic tools, vaccines and treatments targeting COVID-19, as well as accelerating the adoption of technology to support care delivery when it was not possible to meet in person. As an example, telehealth alone has seen a 38x increase in use from pre-COVID-19 levels, where it represented only 1% of clinical consultations. One of our portfolio companies, HealthHero, will have conducted almost three million consultations across Europe this year alone.
It is important that we maintain this momentum of innovation to take patient care to the next level. At MARCOL Health we do this through our team of over 100 employees, acquiring or investing in innovative healthcare services and technology businesses to build them into scalable international platforms. These solutions help to streamline and simplify the way people access and use health services. MARCOL Health’s goal is to enhance traditional models of healthcare services, to achieve a balance in care delivery that works well for patients and healthcare professionals alike.
We have developed a three-step process designed to deliver returns for our investors and to turn these pioneering propositions into global platforms. Firstly, we identify local companies with proven solutions, we then evolve the businesses into scalable platforms. Finally, we accelerate growth and expand internationally.
This approach helps develop propositions that solve the key challenges faced by the sector, namely:
- Access: giving wider and easier access to services that support both physical and mental health.
- Quality: improving the quality of service by leveraging the power of data and using technology to guide best practice & product development
- Cost: over time seeing a reduction in the overall cost of delivering healthcare services.
Within our portfolio companies, ‘HealthHero’ offers access to remote consultations to over 20 million people; ‘Atida’ our pan-European online pharmacy sells and distributes almost 50 million items at lower prices conveniently to customer homes; ‘medneo’, our diagnostic imaging business, processes more people through their centres than conventional settings; and ‘FirstCare’, with their corporate wellbeing proposition, can save up to 40% in employee absence through mental health and wellbeing support.
Now more than ever there is a strong case for continuing to invest in proven innovative businesses within the healthcare sector. At MARCOL Health we will continue to build on and accelerate our current momentum of transactions and partner with existing and new co-investors to pursue more of these exciting opportunities that also create positive change.
To learn more, visit us at marcolhealth.com
Ed Radkiewicz, CEO – MARCOL HEALTH
Ed joined MARCOL in 2015 with more than 20 years’ experience within the health sector across the UK and Europe, the US and North America, Latin America and Asia Pacific.
Ed has previously built and managed several healthcare businesses that included private-equity-backed operations in developed and emerging markets, as well as acquiring and integrating established companies across international regions. The health operations included care delivery, health management, mental health, diagnostics, technology and wellness. Most recently he worked for the world’s largest healthcare business based out of the US, UnitedHealth Group, where he led their international health-services operations that managed over 10,000 interventions a day.